Investment Securities (Tables)

3 Months Ended

Mar. 31, 2022

Investment Securities

Schedule of amortized cost of investment securities to estimated fair values

	March 31, 2022
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	4,107	$	60	$	—	$	4,167
Mortgage backed securities
Residential agency		765,363		229		(54,471)		711,121
Commercial		85,123		185		(2,576)		82,732
Asset backed securities		41		1		—		42
Corporate bonds		69,033		531		(1,293)		68,271
Total available-for-sale investment securities		923,667		1,006		(58,340)		866,333
Held-to-maturity
Obligations of state and political agencies		141,373		1		(7,594)		133,780
Mortgage backed securities
Residential agency		198,777		—		(14,731)		184,046
Total held-to-maturity investment securities		340,150		1		(22,325)		317,826
Total investment securities	$	1,263,817	$	1,007	$	(80,665)	$	1,184,159

	December 31, 2021
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	5,028	$	75	$	—	$	5,103
Mortgage backed securities
Residential agency		717,781		1,213		(11,837)		707,157
Commercial		88,362		2,674		(123)		90,913
Asset backed securities		52		2		—		54
Corporate bonds		49,035		1,398		(11)		50,422
Total available-for-sale investment securities		860,258		5,362		(11,971)		853,649
Held-to-maturity
Obligations of state and political agencies		144,543		1,110		(349)		145,304
Mortgage backed securities
Residential agency		207,518		—		(3,145)		204,373
Total held-to-maturity investment securities		352,061		1,110		(3,494)		349,677
Total investment securities	$	1,212,319	$	6,472	$	(15,465)	$	1,203,326

Schedule of investment securities with gross unrealized losses

	March 31, 2022
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities
Residential agency		(30,707)		462,087		(23,764)		219,167		(54,471)		681,254
Commercial		(2,576)		70,176		—		—		(2,576)		70,176
Asset backed securities		—		—		—		2		—		2
Corporate bonds		(1,293)		38,240		—		—		(1,293)		38,240
Total available-for-sale investment securities		(34,576)		570,503		(23,764)		219,169		(58,340)		789,672
Held-to-maturity
Obligations of state and political agencies		(7,594)		131,278		—		—		(7,594)		131,278
Mortgage backed securities
Residential agency		(14,731)		184,046		—		—		(14,731)		184,046
Total held-to-maturity investment securities		(22,325)		315,324		—		—		(22,325)		315,324
Total investment securities	$	(56,901)	$	885,827	$	(23,764)	$	219,169	$	(80,665)	$	1,104,996

	December 31, 2021
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities
Residential agency		(10,156)		554,811		(1,681)		55,082		(11,837)		609,893
Commercial		(123)		17,470		—		—		(123)		17,470
Asset backed securities		—		—		—		2		—		2
Corporate bonds		(11)		5,989		—		—		(11)		5,989
Total available-for-sale investment securities		(10,290)		578,270		(1,681)		55,084		(11,971)		633,354
Held-to-maturity
Obligations of state and political agencies		(349)		53,210		—		—		(349)		53,210
Mortgage backed securities
Residential agency		(3,145)		204,373		—		—		(3,145)		204,373
Total held-to-maturity investment securities		(3,494)		257,583		—		—		(3,494)		257,583
Total investment securities	$	(13,784)	$	835,853	$	(1,681)	$	55,084	$	(15,465)	$	890,937

Schedule of contractual maturity of amortized cost and estimated fair value

	Held-to-maturity				Available-for-sale
	Carrying		Fair		Amortized		Fair
(dollars in thousands)	Value		Value		Cost		Value
Due within one year or less	$	7,452	$	7,423	$	1	$	1
Due after one year through five years		35,474		33,923		8,456		8,316
Due after five years through ten years		73,557		69,032		100,021		98,740
Due after 10 years		223,667		207,448		815,189		759,276
Total investment securities	$	340,150	$	317,826	$	923,667	$	866,333

Schedule of proceeds from the sale of available for sale securities

	Three months ended
	March 31,
(dollars in thousands)	2022		2021
Proceeds	$	—	$	13,189
Realized gains		—		114
Realized losses		—		—

Schedule of proceeds from the call of held-to-maturity investment securities

	Three months ended
	March 31,
(dollars in thousands)	2022		2021
Proceeds	$	515	$	—
Realized gains		—		—
Realized losses		—		—

Schedule of federal home loan bank

	March 31,		December 31,
(dollars in thousands)	2022		2021
Federal Reserve	$	2,675	$	2,675
FHLB		4,246		3,806